News Stories

More affordable housing units coming to Holiday, Florida

2016.03.18
THE SUNCOAST NEWS | by SUNCOAST NEWS STAFF
A developer has secured financing to begin construction of an additional 110 units at Park at Wellington, a 37.9 million, 220-unit affordable housing community under construction on Sunray Drive west of U.S. 19.
Housing Trust Group, a multifamily housing developer in Florida, got 18 million in financing for the second phase, executives announced last week.
HTG broke ground on phase one of the project in July. The new community, which is scheduled to be ready for occupancy in November 2017, will offer reduced rents ranging from 367 to 827 per month to those with qualifying incomes.
“Affordable housing for working and low-income families is scarce,” said Matthew Rieger, president and CEO of HTG. “Park at Wellington provides a safe, clean and attractive place for hard-working families to live, while also providing the necessary support and services that will help residents and their children thrive in the future.”
The project should create about 100 construction jobs and 10 permanent jobs, publicist Melinda Sherwood said.
According to the developer, the design esthetic at Park at Wellington is a mix of the Florida Vernacular Style and the Prairie School of Frank Lloyd Wright.
Features will include manicured courtyard, pool, playground, dog park and lake views with walking path. On-site services will include after-school programming, literacy training and employment assistance.
Funding for the second phase combined a tax-exempt loan from Florida Housing Finance Corporation 4 percent Low Income Housing Tax Credit equity from City Real Estate Advisors and a construction loan from Key Bank. Development of the community.
Park at Wellington, between Sunray Drive and Gulf Trace Boulevard, will provide a total of 36 one-bedroom one-bath units; 124 two-bedroom two-bath units; and 60 three-bedroom three-bath units.
The units will range in size from 676 square feet to 1379 square feet. Most of the units will be set aside for residents earning at or below 60 percent area median income while 24 units will be for tenants at or below 40 percent AMI.
The clubhouse will feature a cyber café, pool, exercise room, after-school care, laundry facility, offices and maintenance area. Other amenities will include on-site playground, dog park, walking path around a central lake with fountain, and various seating and gathering areas.
The community is near a Publix grocery store, Sunray Elementary School and various other residential apartment communities.
The project team for Park at Wellington is comprised of architect Fugleberg Koch, civil engineer High Point Engineering Inc. and general contractor HTG Hennessy LLC.
Follow Us: Twitter & Facebook